BAA stumps up £230 million for Crossrail project
BAA has agreed to contribute £230 million to the Crossrail project, which will provide direct services from Heathrow Airport through central London, the City and Canary Wharf and out to Shenfield and Abbey Wood.
Crossrail, due to be operational by 2017, will guarantee a fast train service four times an hour for the majority of the day.
Transport Minister Andrew Adonis and BAA’s strategy director Mike Forster said Crossrail will boost the UK economy by at least £20 billion and create an extra 30,000 jobs.
Forster said: “This vital new link will directly connect the City and Canary Wharf to the airport, complementing our existing Heathrow Express service and taking thousands of cars off the roads. Crossrail will be crucial in keeping London and the UK globally competitive.â€
Mayor of London Boris Johnson added: “This is another significant step forward in preparing for the construction of this landmark new railway.
“Works have already begun at Tottenham Court Road station and the contracts to design and build the multi-billion pound project are all on track to be awarded by spring 2009. All parties are committed to Crossrail’s success, and together we will deliver it on time and on budget.â€
The new line will run from Maidenhead and Heathrow in the west through new tunnels under central London to Shenfield and Abbey Wood in the east.
New stations will be created at Paddington, Bond Street, Tottenham Court Road, Farringdon, Liverpool Street, Whitechapel and the Isle of Dogs (Canary Wharf).
The £16 billion project will be funded by both Government and the businesses that are set to benefit from it.
BAA’s contribution will be paid by Heathrow Airport Ltd, a wholly owned subsidiary of BAA which owns and operates Heathrow.
It is subject to the approval of the Civil Aviation Authority, BAA’s economic regulator.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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